Commodities Daily Forecast – November 13, 2017

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Published: Nov 13, 2017, 09:35 UTC

Gold The gold prices collapsed at the Friday's session touching the $1275 level again. This level has been a strong support level for the gold and in

Gold

The gold prices collapsed at the Friday’s session touching the $1275 level again. This level has been a strong support level for the gold and in stochastic oscillator it has crossed upside in an oversold condition indicating of an upside rally. A break above $1277 level will send this market further higher to $1287 level. This correction in the market is a short term blip and overall the gold market will remain bullish possibly due to geopolitical tensions. …Read More

Silver

The Silver prices initially went sideways on Friday’s session but then sliced through the $17 level which was providing support to this market. The market has plenty of support underneath towards the $16.75 and then at $16.50 level. It is likely that buyers will return this market as the silver is consolidating for a time now and this fall could be an excellent buying opportunity. The market seems to be trapped in the range of $16.50 and $17.50 level and break in the either side will help the market to decide its future levels. …Read More

WTI Crude Oil

The crude prices are very stable from the past few sessions hovering around the $57 region. The market looks bit overextended and is building momentum before any the rally resumes. The $55 level underneath will act as a floor of this market so any pullbacks from here will be a good buying opportunity with a target of $60 and above. …Read More

Natural Gas

The natural gas prices continued its strong momentum through the Friday’s session. The prices dipped a bit lower towards the $3.15 level at the end of session. The market continues to be in the upside channel after a significant breakout this week after long time. The strength is possibly due to rise in demand in the US as winter approaches and supply from US comes down. The $3.10 level believed to be the floor and $3.30 level will be the ceiling to this market. …Read More

About the Author

Colin Firstauthor

Colin specializes in developing trading strategies and analyze financial instruments both technically and fundamentally. Colin holds a Bachelor of Engineering From Milwaukee University.